Unum increases free cover limit to £1.75m for group life offering

Unum is increasing its free cover limit to £1.75 million for its group life offering, and claims the development makes it the highest available in the market. The new free cover limit, equal to the lifetime allowance set by the Government for pensions savings, will be based on a tiered approach so that the maximum amount will be available for larger cases. Unum has also extended its \'Once & Done\' medical underwriting approach to group life policies above 20 lives, up to a maximum benefit of £5 million per member. Paul Davies, marketing and business development director at Unum, said: \"We are very conscious that in the current economic climate businesses, in particular SMEs, are looking to manage costs while still providing their employees with attractive benefits packages.\"